Yaupon Capital Management LP Has $11.12 Million Stock Position in Veren Inc. (NYSE:VRN)

Yaupon Capital Management LP lifted its stake in shares of Veren Inc. (NYSE:VRN) by 79.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,805,096 shares of the company’s stock after buying an additional 797,754 shares during the period. Yaupon Capital Management LP owned about 0.29% of Veren worth $11,118,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Veren in the 2nd quarter worth about $293,000. Perkins Coie Trust Co bought a new stake in shares of Veren during the second quarter worth about $205,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Veren in the second quarter valued at approximately $234,000. Lorne Steinberg Wealth Management Inc. bought a new position in Veren in the 2nd quarter valued at approximately $624,000. Finally, Fifth Third Bancorp acquired a new stake in Veren during the 2nd quarter worth approximately $85,000. 49.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on VRN. Raymond James assumed coverage on shares of Veren in a research report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price target for the company. Royal Bank of Canada decreased their price objective on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Veren Stock Performance

Shares of VRN stock opened at $4.99 on Friday. The stock has a market capitalization of $3.07 billion, a PE ratio of 3.56 and a beta of 2.16. The business’s 50 day simple moving average is $5.71 and its 200 day simple moving average is $6.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. Veren Inc. has a one year low of $4.90 and a one year high of $9.28.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a $0.085 dividend. This is a positive change from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date is Friday, December 13th. Veren’s dividend payout ratio is currently 24.29%.

About Veren

Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.